Inside NZ’s most expensive retirement village apartment
Summerset launches NZ’s most expensive retirement apartment
- Record price: Auckland retirement apartment listed at NZ$12M
- Penthouse living: Three bedrooms, study and four balconies
- Luxury trend: Premium seniors living continues to surge
- Big village: Summerset St Johns to house up to 450 residents
Summerset Group has unveiled what is believed to be New Zealand’s most expensive retirement living apartment.
The licence to occupy The Pinnacle apartment in Auckland’s St Johns retirement village in the city’s eastern suburbs is NZ$11.995 million (AUD$9.866 million).
CEO Scott Scoullar, Chief Executive Officer of Summerset Group, said the 208sqm unit, which has four balconies, three bedrooms plus study and three bathrooms, is located on level five of its new Tiritiri Matangi building.
Mark Moran Vaucluse’s $10 million penthouse sold in 2016 remains the highest priced retirement village apartment in Australia.
There are eight top floor penthouses apartments, from 226msq up to 735msq, in Odyssey Lifestyle Care Communities’s Chevron Island development. In July 2023, the asking price was around $7.5 million each.
The Pinnacle penthouse apartment in Summerset St Johns.
Summerset St Johns opened in October 2024. Standard apartments in the retirement village in Auckland cost NZ$1.4 million on launch. The average house value in Saint Johns, Auckland, sits at roughly NZ$1.440 million.
The village, which will be the NZX-listed company’s third largest with capacity for up to 450 residents, sits on a 2.6ha site.
The development is being constructed in two stages, and once complete, will feature 225 independent living units, 55 serviced units and 49 care and memory care suites.
